Your Legacy: Beneficiary Planning and Wealth Transfer

Family on dockEstate planning is the process of determining how your belongings, property, and assets will be distributed in the event of your passing or if you ever become unable to manage them for yourself. Ask yourself this question: Do you own something of value that you wish to pass on to someone one day? If you answered “yes,” then you and your heirs will likely benefit from some basic estate planning for wealth transfer.

One critical piece of planning includes making sure you successfully transfer your assets to your designated beneficiaries. Changes in your family situation, which may include a marriage, divorce, or birth/adoption of a child, make the regular review of your beneficiary designations a necessity. Knowing that your assets will go to the intended loved ones can bring you peace of mind.

Given the many components of a proper estate plan, making sure you have all the pieces in place may seem like a daunting task. As you prepare to review your estate plan, it may be helpful to consult with a professional who can aid in making those informed decisions. The qualified financial professionals at Consumers can help ensure that your financial assets are positioned in a way that is consistent with your current needs, risk tolerance, and long-term goals. Call us at 800.991.2221 to learn more.

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